Q) What Impact do you think will AI & Machine learning will bring to the Marketing Industry?
As marketers, we are witnessing the impact of AI and Machine learning in various industry, there are ample number of examples across Digital Marketing to the Traditional Marketing, but as consumers sometimes you do not realise that you have been touched by the AI or ML.
Most of the IOT (Internet of Things) are actually governed by the basic principles of AI. According to a survey, 51% of marketers are already using AI, and 27% more are even planning on incorporating this technology in 2019.
The natural machine-learning programs (NLP) and AI have helped the ML technology to advance big way in the following industries
3. Digital Marketing
Using AI, digital marketing strategies will help brands deliver improved customer experience and do more effective marketing. It also ensures faster problem-solving for consumers. It’s time for marketers to get on a new paradigm determined by AI; otherwise, they will be left behind.
Q) How important do you think personalisation is in the present marketing scenarios?
With the availability of big data, marketers can tap into the content (media mix – web, email, digital advertisements, in-person) and the context (micro-moments – tactical and thematic) to create a personalised customer experience. The data allows the marketers to create unique and relevant experiences which are long-lasting for their customers.
The recent evergreen report of March 2019 clearly shows, the personalisation helps to improve the following:
1. Deliver better customer experience
2. Increase loyalty
3. Drive more leads – Lift or generate better ROI
Personalisation has become a new hygiene standard in the industry as customer’s demand it and do not want mass marketing messages to reach them unless it’s personalised it’s of no use.
One of the example of a personalised contextual message, in a purely connected world:
· If the customer enters a geofenced location after travelling for over 3 hours, an automatic message (SMS, app notification or even an email) is triggered for the food discount of up to 20%
· On certain outlets for purchase above INR xxx value, as per the eating habits via the food delivery apps.
The example above shows a real-time experience for a customer across devices, an AI tool has identified the location, then a relevant marketing message on food offers to create a perfect blend of contextual, personalised message for the customer. Perfecto isn’t it?
Q) What do you think would be the future of marketing?
The marketing team will have a new role, the role of a techno-functional team, where it would be more than just the brand, digital marketing. This would involve, skills across a wide spectrum from sales, customer service, analytics, data, insights to consumer experience, and user journey.
A deeper understanding of the AI and ML applications with exposure to touch the micro-moments of the customers across IOT without invading the privacy of the customers.
1. Experience the company offers will be as credible as the product or service offered by the company. Right from the personalised lead form to the mapped consumer journey, this is about managing the end to end journey from awareness to advocacy. More of cohesive customer experience across all the touchpoints.
2. Most of the customer interactions, emails, SMS, notification would be managed by AI or ML-based systems with minimum human interventions
3. Retention, lifetime value will be personalised and automated, seamless consumer journeys would be built with advanced automation tools. The integrated marketing mapping every single touchpoint of the consumer journey right from the awareness to the fulfilment stage. The marketing teams are going to own it.
Marketing departments are going to be the bridge between the various departments ensuring a cohesive and strong customer experience across all the touchpoints from digital (research, awareness, consideration) to in-store (experience).
Q) How do you thinking automation can help the marketing strategy?
We all know automation is the next big thing, every time new marketing tools are acquired, it comes with huge excitement and motivation, to make a big change. In the way of customer experience, generating new leads, nurturing contacts, increasing productivity, and maximise sales, but in the end, it boils down to implementing proven marketing automation strategies for your campaigns. Here are some of the best-kept strategies
1. In the future, the big data and AI combined will automatically be able to identify the new audiences, buyer personas in your networks by creating the various customer segmentation as per the business requirements. Opening up the brands to the niche personas they would have never seen otherwise
2. Some reports suggest over 45% of the consumers will sell their own personal data directly to the brands for the personalised shopping experience and recommendation in line with personal needs. Also, for special discounts!
3. The realtime experience will help the consumers build more trust and the recommendation based on the three main traits mapped via AI and ML across digital, offline stores. So that personalised messages can help to create intent and increase sales with the help of predictive modelling. The basic questions to be answered will remain the same
a. Who you are based on basic account credentials
b. What you are looking for based on your previous history
c. What people like you are buying, the look-alikes of the world
Q) What marketing channels are must in your marketing strategy?
The marketing teams will have multiple tools and data sources, the biggest challenge in future for the marketing teams would be the identity crisis, the martech teams of future will have one data management guy with the view to the data across tools, channels and big data sets.
The martech tools will differ as per the type of the organisation or the business type (B2B or B2C), but we can generalise them into five different categories.
1. CRM – customer relationship management tool is primarily used for tracking the customer data, the assignment of the leads and then tracking the closure/conversion of the leads
2. CDP – customer data platform helps to track the interactions or the touchpoints which the customers had before converting with the brand, this is more for personalised communication
3. MAT – marketing automation tool helps to automate the communication across the various customer journeys and user experiences
4. CMP – content management platforms help to streamline the holistic exposure and content personalisation for a seamless, device-agnostic experience across
5. DMP – data management platforms are the digital marketing tools which track the prospects across various medium and media by personalised communications
The AI and ML technologies will play a very crucial role to connect the data points seamlessly.
About Ashutosh Sharotri
As a marketer, I have been a digital marketer and e-commerce practitioner/manager/head all action laden responsibilities for more 13+ years, with the last few years focusing on mobile.Experienced in setting up businesses from scratch, increasing brand visibility, performance marketing and profitability for diverse verticals ranging from SMEs to large reputed organizations in real estate, sports, retail, e-commerce, telecom, finance and internet sector.Lead, managed, built digital teams, drive marketing technology & innovation, and creating a data driven culture within organization.